At the same time, rental housing remains among the nation’s most expensive.Connecticut has the eighth-highest apartment rents in the U.Approximately million is awarded semi-annually, with applications seeking three to four times that amount, Lundgren said. The state is accepting applications for predevelopment loans up to million for properties located within a half-mile of public transit stations, said Garrett Eucalitto, undersecretary for Transportation Policy and Planning at the state Office of Policy and Management.That program began as an effort to spur development near the CTfastrak dedicated bus line, but has expanded to include sites near all transit stations statewide.That’s why an event like this is so important,” Lundgren said.“It’s a well-choreographed dance including private capital, design and construction knowhow.” The state’s CHAMP grants and loans are the most popular incentive for multifamily housing developers.
James Rabbitt, Simsbury’s director of planning and community development, and John D’Agostino, senior manager at the Connecticut Green Bank, take part in a multifamily development “speed dating” conference Monday in Hartford.
Nine years ago, the state enacted incentives for communities to encourage multifamily development.
At least eight cities and towns have adopted Incentive Housing Zones and nearly 30 have at least a preliminary degree of participation in the program, said Kathryn Shafer, deputy policy director at the Partnership For Strong Communities.
“The problem is land values are tough, and it comes back to jobs.
First you need jobs and then there’s a reason for people to live there,” Vallone said. Financing is a huge component and banks are really constricted since the crash.